September 3, 2021
On August 30th, the SEC sanctioned eight firms in three actions for failures in cybersecurity policies and procedures. The investigations revealed:
WHAT DOES THIS MEAN FOR ME?
The failure to adopt and implement policies to mitigate the risk of cybersecurity breaches could put your firm, and your clients, at risk. Kristina Littman, the Chief of the SEC enforcement Division’s Cyber Unit, indicated that investment advisers and broker dealers are required to protect client information. She further provides that establishing the policies alone is not enough; full implementation is a must.
It is important that any compliance gaps in your firm’s cybersecurity policies are addressed and that policies are tailored to the firm’s business practices and implemented in practical manner.
If your firm requires assistance with implementing cybersecurity programs to comply with industry best practices and regulatory expectations, Fairview Cyber can assist. We support registered investment advisers by creating and implementing comprehensive, sustainable cybersecurity programs with the help of our in-house regulatory experts.
Contact us today for more information about our services.